Demetra’s Share Buyback Initiative
Demetra Holdings PLC has announced its continuation of the share buyback programme, having completed the purchase of 6,540 of its own shares through the Cyprus Investment and Securities Corporation Limited (CISCO) on May 18, just weeks ahead of its upcoming annual general meeting (AGM). This transaction was executed at a price of €1.54 per share, adhering to the necessary regulations.
Details of the Recent Purchase
According to official reports from the company, the share buyback consisted of two separate transactions: 6,248 shares and 292 shares, both completed during the same trading session. This move follows shareholder authorisation granted during the previous AGM, indicating a strategic approach to bolster shareholder value ahead of the company’s twenty-sixth AGM.
Upcoming Annual General Meeting
The AGM is scheduled for June 30, 2026, at 11:00 am, taking place at the Allwyn Hall in Olympic House, Nicosia. Shareholders attending this meeting will engage in ordinary business, which includes reviewing the management report, the consolidated management report, and the corporate governance report for the financial year ending December 31, 2025.
Financial Statements and Voting Agenda
The agenda for the meeting also includes the presentation of the audited consolidated financial statements for the 2025 financial year, along with corresponding reports from both directors and auditors. Shareholders will have the opportunity to vote on the re-election of retiring board members, which includes four proposed independent non-executive directors, one non-independent non-executive director, and one non-independent executive director.
Director Remuneration and Auditor Appointment
Another key point on the agenda will be the setting of remuneration for the members of the board of directors, which is expected to be approved during the ordinary session. Additionally, the reappointment of Grant Thornton Cyprus Limited as statutory auditors will be addressed, along with a vote to authorise the board to determine their annual remuneration.
Extraordinary Resolution for Share Buyback
In a special business segment, the meeting will feature an extraordinary resolution aimed at authorising the board of directors to acquire the company’s own shares for a period of twelve months following the vote. This new buyback authorisation stipulates that the nominal value of shares acquired cannot exceed 10% of the issued share capital or 25% of the average daily transaction value over the preceding 30 days, whichever is smaller.
Purchase Price Regulations
The maximum purchase price for shares under this new authorisation is capped at no more than 5% above the average market price during the last five stock exchange sessions prior to the purchase. Notably, there are no minimum price restrictions applied, and any shares acquired under this mandate must be held for a maximum of two years.
Dividend Payout and Record Dates
During the AGM, shareholders will evaluate an ordinary resolution for a final dividend payment amounting to €20,000,000, which translates to a gross payout of €0.10 per share based on the results for 2025. The dividend record date for this distribution is set for July 9, 2026, meaning transactions up to the end of trading on July 7, 2026, will retain the right to receive this payout.
Trading Cum-Dividend and Ex-Dividend Dates
Consequently, shares will trade cum-dividend until July 7, 2026, and will begin trading ex-dividend from the start of the trading day on July 8, 2026. In anticipation of this distribution, the company has applied for an extension of the dividend payment deadline from the Cyprus Stock Exchange, citing the complexities related to its extensive shareholder register and the summer holiday period.
Voting Rights and Proxy Representation
Only those shareholders registered in the books of the Cyprus Stock Exchange on the voting record date of June 25, 2026, will be entitled to attend, speak, and vote at the AGM. Demetra currently has 200,000,000 issued ordinary shares, with each share granting one vote at the general assembly. Shareholders who wish to participate in the voting process can appoint a proxy to represent them, submit questions, and cast their votes on their behalf. Standard general or specific authorisation forms must be submitted at least two working days prior to the session.
